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SAN FRANCISCO - 12/02/04 - Think London, the official inward investment agency for London, has appointed GersickAssociates as its exclusive California representative.

"California is the single most important market for North American investment into London," said David Riches, Think London's Executive Director for North America. 

Last week, Think London - formerly the London First Centre - announced a "transformation in its approach to developing and marketing London as a global business city, with new and expanded consulting services offered at no cost to growing businesses," said Riches.

GersickAssociates, he said, "is an integral part of that transformation," adding the selection of the San Francisco-based international marketing company  "signals the opening of our new campaign, designed to show every California business why London should be its second home."

According to GersickAssociates President Michael Gersick, "Every CEO considering global markets must look to London. For California business, 'Pacific Rim' has been the buzzphrase for years, but London is the portal to a consolidating European Union market comprising over 450 million people."
       
The UK economy, Gersick said, "has been growing at the fastest rate in the EU, and London is the center for that growth; plus, the common language and cultural familiarity eliminate many of the uncertainties that can be expected in other locations.  For California businesses looking to establish an international foothold, London is the perfect location."

Last week, Think London released new research showing for the first time that foreign direct investment (FDI) injects $70 billion into London's economy - nearly a quarter of the capital's total output (23% of some $290 billion). 

The lion's share of that FDI - about 45% - comes from the US, the investment agency said. 

Think London's principal funding partners are the London Development Agency (LDA) and London's business community, through London First, while other key partners are the Corporation of London, which also provides funding, and UK Trade & Investment.

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